A delegation headed by Mark Ginsberg, special representative of the Minister of the U.S. Department of Energy, toured LED (light emitting diode) companies in Hangzhou on Sept 18.

"The rapid development of the LED market in Hangzhou greatly impressed me," said Mark.

"LED technology has already entered our daily lives through traffic lights and street lamps," said Zhu Xiaobiao, board chairman of Z-LIGHT, a LED manufacturer in Hangzhou.

"There is a giant market for LED lamps," said Shen Yong, chief of High-tech Division of Hangzhou Bureau of Science and Technology. "Hangzhou occupies a big share in the domestic LED market."

Though the LED market has a "bright" future, investors should be cautious, warned some experts.

By Xie Fang and Wang Gongyuan